Mulvaney Ends CFPB Investigation into Campaign Contributor

For Immediate Release: January 23, 2018 Mulvaney Ends CFPB Investigation into Campaign Contributor WASHINGTON, D.C. – For the second time in a week, Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau (CFPB), has taken action to protect one of his campaign donors instead of consumers by dropping an investigation into World Acceptance Corporation, a Greenville, South Carolina-based …

The Mulvaney regime at the CFPB picks a fight over the payday lending rule

The Consumer Financial Protection Bureau is under a new regime, one dubbed by the St. Louis Post Dispatch the Consumer Financial Destruction Bureau in an editorial. This is nowhere more evident than in the bureau’s actions last week to break its commitment to the public to rein in predatory payday and car title loans. First, the Consumer Bureau also signaled its plan to “reconsider …

Mick Mulvaney Drops Lawsuit Against Payday Lenders Charging More Than 950% APR Loans

For Immediate Release: January 19, 2018 Contact: Adam Muhlendorf, Stop the Debt Trap Coalition (202) 641-6216; adam@westendstrategy.com Mulvaney Drops Lawsuit Against Payday Lenders Charging More Than 950% APR Loans WASHINGTON, D.C. – Mick Mulvaney, who was unlawfully appointed as Acting Director of the Consumer Financial Protection Bureau (CFPB), abruptly dropped a lawsuit against four abusive online payday lenders who illegally made …

Mulvaney, Predatory Lenders Signal Plan to Kill Payday Lending Rule

For Immediate Release: January 16, 2018 Contact: Adam Muhlendorf, Stop the Debt Trap Coalition (202) 641-6216; adam@westendstrategy.com WASHINGTON, D.C. – Today, Mick Mulvaney, who was unlawfully appointed as acting director of the Consumer Financial Protection Bureau (CFPB) in November, announced his plan to reopen the consumer bureau’s rule on payday and car title loans, which are usually 300% annual interest or …